Category Archives: Bankruptcy
Former NFL Player Files for Bankruptcy
Celebrities seem to be filing bankruptcy a lot recently. News reports have informed us that German tennis star Boris Becker has been involved in bankruptcy proceedings. Dina Lohan also filed for bankruptcy this Fall. Now come reports that a former National Football League player has recently filed for bankruptcy. Reggie Rucker, a former wide… Read More »
Lawyer Suspended for Bankruptcy Fraud
Bankruptcy fraud does not receive a lot of attention. For one thing, few people commit fraud. They don’t have any large assets, so there is nothing to hide. For another, many debtors work with a seasoned bankruptcy attorney, like those from Nowack & Olson, who will carefully survey their assets and debts to make… Read More »
Can You Discharge Homeowners Association Dues in Bankruptcy?
Homeowners associations (HOAs) are popular in Florida. For the pleasure of living in a planned community, however, you need to pay dues to the HOA, which can sometimes exceed thousands of dollars a year. Homeowners who fall behind on their dues often ask us whether they can get rid of them in bankruptcy. Often,… Read More »
Can You Keep a Credit Card During and After Bankruptcy?
Credit cards make life easy. You never have to worry about having enough cash on you, and you can even make a purchase that you know you can’t afford today but will pay off over time. However, the ease and convenience of credit cards is probably one of the main reasons you are visiting… Read More »
Preferential & Fraudulent Transfers: What You Need to Know
One of the key concepts of U.S. bankruptcy law is that creditors must be treated fairly. This means that the trustee can’t treat one unsecured creditor more favorably than another. It also means that debtors cannot favor a creditor ahead of all other creditors. However, many debtors commit preferential transfers and fraudulent transfers. Preferential… Read More »
Boy Scouts Considering Bankruptcy
In a surprise announcement, the Boy Scouts of America have reported that they are considering bankruptcy. The news is especially surprising given the organization’s recent decision to begin allowing girls into the program—a move that was largely viewed as the death knell for the Girl Scouts. However, the Boy Scouts have been laboring under… Read More »
Will I Lose My Life Insurance Policy if I File for Bankruptcy?
Life insurance policies provide peace of mind to millions of people around the country. Should you die, you want your family to be provided for. This concern is particularly intense if you are the main breadwinner in the family. By purchasing a life insurance policy, you guarantee a sum of money to your family… Read More »
New Year’s Financial Resolution
The start of a new year is a great time to make some changes to your lifestyle so that you can be on firmer financial footing. Of course, many people fail to achieve their resolution, particularly weight loss goals. To make things manageable, we will avoid stuffing this article with hard-to-achieve goals that will… Read More »
Toys ‘R Us Bankruptcy Hit Toys for Tots Program
The recent bankruptcy filing and closure of giant retailer Toys ‘R Us made it harder for parents to find toys for their children this holiday season. The bankruptcy filing also hammered the famous Toys for Tots program, hampering the charity’s ability to obtain the toys it needs to distribute to needy families. Toys for… Read More »
What are Allowed Living Expenses in a Chapter 13 Repayment Plan
The repayment plan is the centerpiece of a Chapter 13 bankruptcy. This plan can last up to five years, and it identifies how much you will pay to your creditors. Any debt that remains at the end of the repayment period gets wiped out, and you can walk away free. At its simplest, a… Read More »